Share
Chinese property giant Evergrande has a huge debt problem – here’s why you should care
Chinese real estate behemoth Evergrande faced its biggest crisis yet in September 2021, spooking markets and prompting comparisons to the collapse of U.S. investment bank Lehman Brothers in 2008.
Since the company’s founding in 1996 by Hui Ka Yan, it has since accumulated more than $300 billion in debt, making it the world’s most indebted developer.
“As Evergrande teeters on the edge of default, the collapse would have grave consequences for hundreds of thousands of property buyers and retail customers,” said CNBC Senior Correspondent Emily Tan.
#Evergrande #EvergrandeGroup
Content:
00:00 Intro
01:14 Background of Evergrande
01:57 Evergrande's huge debt
02:43 People's Bank of China (PBOC)'s three red-lines & rationale
04:16 Domino effect of the Evergrande crisis
06:03 Is this China's 'Lehman moment'?
06:32 Will there be a bailout?
08:27 Biggest takeaway
-----
Subscribe to us on YouTube: http://cnb.cx/2wuoARM
Subscribe to CNBC International TV on YouTube: https://cnb.cx/2NGytpz
Like our Facebook page:
https://www.facebook.com/cnbcinternational
Follow us on Instagram:
https://www.instagram.com/cnbcinternational/
Follow us on Twitter:
https://twitter.com/CNBCi
Thu, 30 Sep 2021 11:00:02 GMT
SIGN UP FOR OUR NEWSLETTER
DAILY UPDATE
Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.